Four senior technical managers have left SMSF administration firm SuperConcepts as part of its new owner’s recently announced plans to reduce the business’s cost base.
Selfmanagedsuper has confirmed SMSF technical and private wealth executive manager Graeme Colley, SMSF technical and strategic solutions executive manager Phil La Greca, SMSF technical support executive manager Nicholas Ali and senior SMSF technical specialist Anthony Cullen left the firm on 31 July.
Colley had been with SuperConcepts since September 2016, having joined from the SMSF Association, while La Greca had been with the company since May 2016.
La Greca was previously head of technical services at Multiport from August 2003, with that firm rolled into the newly formed SuperConcepts in early 2016 as a sub-brand alongside AMP SMSF Solutions, Ascend, Cavendish, Justsuper, SuperIQ, SuperMate and yourSMSF.
Ali joined SuperConcepts in April 2010 as an SMSF technical services specialist, having previously been a financial planner, and moved into the role of SMSF technical support executive manager in February 2014, while Cullen joined in September 2013 as an SMSF technical specialist before being promoted in June 2021 to senior SMSF technical specialist.
The departures come as part of reports that around two-thirds of the 120 staff in the Sydney office have also left the company in the two months since it was acquired from AMP. At the time of the sale, SuperConcepts was reported to have around 500 employees who were transferred across from AMP as part of the sale.
The new management of SuperConcepts has stated the staff changes are part of a strategy “to move away from an institutional cost base of the previous owners” and it was conducting a consultation process into the direction of the business.